By Penny Johnsonn

Today, property investment is still one of the most profitable investments out there. As a matter of fact, most rich individuals are into property development. They get to make a lot of money through this. Now, one way of property investment is through rental property investment. With rental property investment, there are certain tricks of the trade that you need to learn in order to make it successful. Here are six ways on how you can make your rental property investment successful.

1.Know Thyself

As the great philosopher Plato once said, you have to know thyself. This means that you must know your strengths and weaknesses as a rental property investor. You should upgrade your strengths whilst you diminish your weaknesses. If one of your weaknesses is fear of failure in the rental property investment industry, then you should learn to overcome your fears in putting up a rental property investment business. In addition, try to educate yourself about the ins and outs of the rental property investment business. It will help you eliminate your fear of failure.

2.Choose the Right Properties to Rent to People.

With the decrease in real estate prices, now is the time for you to purchase a lot of properties for your rental property investment business. You have to choose properties where it is accessible for transportation. Also purchase properties that are free from crime such as gang wars and the likes. Then do not immediately jump into the big time part of the rental property investment business. You can begin renting flats and small houses for families. Also only buy houses that people nowadays can afford given the economic crisis. Only buy houses that are really inexpensive. A trick here is to buy houses that have gone to foreclosure status. More often than not, you can purchase them at below market price level. Inspect these properties yourself if they are worth investing in.

3.Know the Finance Aspect of the Business.

With rental property investment, you must know how to handle the financial aspect. You must be able to save money for a down payment so that there is positive cash flow. Then you have to make sure that your credit is clean. When your credit is clean, you can reduce your monthly payments.

4.Have a definitive contract between you and the tenant.

The contract must be very specific in its details. Hire a lawyer to help you draft a really good contract. With a tight and clean contract, there is little personal dispute between you and the tenant or else legal action becomes necessary.

5.Choose the right tenants.

This may be the more difficult aspect of the industry. You should only rent your properties to people who have the capacity to pay you at the right time of the month. That is why it is necessary to do a background check on your potential tenants. Remember, you do not want any trouble with them when they start renting your properties.

6.Have a precise record of your cash flow.

In this industry, you have to spend for stuff like maintenance. But of course, you also gain money from the rent money the tenants pay you. What you need to do is keep an accurate record of what you earn and what you spend.

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By Richard Armen

Many people become worried when they are in a new city, a dark place, or an urban metropolis. To help make themselves feel safer, they buy pepper spray. This self defense device can be a great deterrent if you are ever attacked. In fact, it may even safe your life, protecting you or a loved one from an assailant.

However, there is a dark side to pepper spray. Sometimes people will use it incorrectly or in the wrong places. Using this self defense product in the wrong way may be very dangerous and can cause major problems. Before choosing to purchase pepper spray, and long before you use it, take the time to learn when it might be appropriate to use pepper spray – and when it might not be a good choice.

Pepper spray should only be used to defend yourself, a person or animal, or your property. The intention of pepper spray is to be able to take down a human attacker – even a full grown adult male – for several minutes. It should never be used to discipline a child. High-strength pepper spray has unknown effects on a child. Even if the physical effect is only temporary, the psychological effects can be permanent and be more painful then the pepper spray’s immediate effects. Although it might seem like common sense not to use the spray as a discipline tool, in fact there are cases every year of pepper spray being used to discipline a child. This cruel, dangerous practice is illegal.

Another common misuse of pepper spray is to discipline a dog. Although pepper spray – and similar sprays, such as bear spray – can be used on dogs that are attacking, it should not be used as a discipline method. The effects of pepper spray on dogs or cats has not been studied, and you could cause permanent physical harm, or even kill your pet. Using pepper spray on an animal can also be a criminal offense. If you are caught using pepper spray on an animal you will likely be charged with cruelty to animals. Stick to tried and true methods meant specifically for pet discipline.

Pepper spray should never be used on a human who presents no physical danger to you. This might seem obvious, but every year there are cases of people using pepper spray as a joke or ‘for fun.’ Kids may find pepper spray and use it on each other, or accidentally use it on themselves. Even adults have been known to play around with pepper spray, but it’s important to remember that this self defense device is not a toy. Keep your pepper spray away from children and anyone else who might think it is fun to play with the device.

Always remember that while pepper spray is a great tool to protect yourself from a real physical threat, it should not be used in all situations. This device is meant for adults or animals who are physically attacking – not for discipline purposes or for fun.

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